What is Kusama (KSM) Coin
Self-described as “Polkadot‘s wild cousin,” Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers. Kusama Coin is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.
By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”
The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.
Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.
- Kusama is a permissionless network which aims to become a testing ground for experiments with significant changes on Polkadot.
- A key difference between Kusama and Polkadot is that Kusama has modified governance parameters that allow for faster network upgrades, with seven days to vote on referendums and eight days to implement those upgrades after a vote.
- Kusama’s infrastructure includes the Relay Chain, the Parachains, and the Bridges.
- The Relay Chain is the central chain of the Kusama network. All validators of Polkadot are staked on the Relay Chain.
- The Parachains are parallel chains that connect to the Relay Chain and are maintained by their validators, called Collators.
- The Bridges are special blockchains that allow Parachains to connect to and communicate with external networks like Ethereum and Bitcoin.
- Kusama uses the KSM tokens for network operations. KSM serves multiple purposes such as:
- Governance: Where participants can manage protocol updates and fixes.
- Staking: Where the tokens are staked to ensure the network remains secure, as good validators are rewarded, and bad actors lose their stake.
- Bonding: Where new parachains are supported by bonding tokens.
- Fees: For ferrying messages across parachains.
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How Much is a Kusama (KSM) Coin
Kusama (KSM) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Kusama (KSM) Coin Review
You can learn more about Kusama (KSM) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Websitehttps://kusama.network/ Github https://github.com/paritytech/polkadot/ Documentation https://guide.kusama.network/docs/kusama-claims/ Telegram https://t.me/kusamanetworkofficial